Live Bullion Trading Tips By CapitalHeght

   The market has opened marginally lower on Thursday. The Sensex fell 75.74 points to 26477.18 and the Nifty declined 20.40 points or 0.25% at 8019.80.

             Bharti Airtel, Lupin, Vedanta, ONGC, Sun Pharma and UltraTech Cement declined nearly a percent. NTPC, GAIL, Infosys, Hindalco, BHEL, Tata Power and Asian Paints were early gainers.

      Gold held near a one-month low on Thursday and looked likely to drop below the $1,100-an-ounce

level .

         Bullion extended its losing streak to a sixth session on Wednesday, after Yellen pointed to a possible December interest rate lift-off.

            India's prime minister will on Thursday launch a programme to lure tonnes of gold from households into the banking system, but low returns and concerns over tax authorities hounding depositors may hinder a scheme aimed at cutting imports.

           Bank Of Baroda cuts interest rates on some term deposits by up to 60 bps.

LOCAL MARKETS PREVIOUS CLOSE

* BSE index 26,552.92 (down 0.14 pct)

* NSE index 8,040.20 (down 0.12 pct)

* Rupee 65.48/65.49 per dlr (65.6450/65.6550)

* 10-year bond yield 7.65 pct (7.65 pct)

* 5-year OIS rate 6.80 pct (6.78 pct)

* 1-year OIS rate 7.05 pct (7.05 pct)

 

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Today’s Bullion Market Tips & News Updates by CapitalHeight

• The market has opened higher on Tuesday after weakness seen yesterday. The Sensex is up 110.16 points or 0.4 percent at 26669.31 and the Nifty is up 35.15 points or 0.4 percent at 8085.95. About 429 shares have advanced, 98 shares declined, and 23 shares are unchanged.
• Asian share markets crept ahead on Tuesday after the benchmark for U.S tech stocks hit its highest in 15 years.
• Gold steadied after a four-day decline on Tuesday but languished near a four-week low as investors dumped the metal on expectations the Federal Reserve would hike U.S. rates this year.
• Spot gold ticked up 0.1 percent to $1,134.60 an ounce by 0246 GMT.

           PRICES AT 0246 GMT

     Metal                  Last        Change     Pct chg

 Spot gold              1134.6       1.25            0.11

Spot silver            15.385      -0.005      -   0.03

    Spot platinum      977.2        4.7            0.48

Spot palladium    650.5          3               0.46

Comex gold         1134.6       -1.3            -0.11

Comex silver        15.41       0.002            0.01

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Bullion Market Outlook:-

• Gold fell to its lowest leveling four weeks on Monday, extending a sell-off to a fourth straight session, as investors feared the Federal Reserve would hike U.S. rates this year.
• Spot gold eased 0.1 percent to $1,140.40 an ounce by 0029 GMT, after earlier dropping to $1,134.60, its lowest since Oct. 5.
•   The metal had posted its worst weekly drop in nine weeks on Friday after the Fed surprised with a direct reference to its next policy meeting as a possibility for the first U.S. rate hike in nearly a decade.
•   Natural gas futures jumped almost 3% on Friday, On the New York Mercantile Exchange, natural gas for delivery in December rose 6.4 cents, or 2.84%, to close the week at $2.321 per million British thermal units. It was the largest one-day gain in almost two months.
•   MCX copper prices traded lower by 1.2 percent yesterday to close at Rs.337.3 per kg. We expect Copper prices to trade lower today as serious demand concerns citing weak growth in the US and China will continue to bother metals. Also, investors will be cautious ahead of series of data from the Europe and US due today.